PWC – Global consumer insights survey, 2023

PwC's Global Consumer Insights Survey, specifically focusing on the Middle East region, reveals that consumers in this region are more knowledgeable and informed than before. They utilize the latest technology to gather information before making purchasing decisions. This trend is a continuation from the previous report, Pulse 5, where high inflation and rising costs influenced consumer behavior. In the current report, Pulse 6, price-conscious shoppers are seen comparing product prices from various sources, such as retailers' websites, e-commerce platforms, and social media. Specialized price comparison platforms are also gaining popularity. In terms of shopping preferences, Middle Eastern consumers still show a slight preference for physical stores over online shopping via mobile phones and personal computers. However, an increasing amount of time is spent on a brand's website for informed decision-making, leading to a growing rate of returns for retailers. Sustainability is a significant factor for consumers in the Middle East, as seen in previous reports. A younger and tech-savvy population in this region is also more likely to embrace emerging technologies during their purchase journeys. Key findings from the survey include a high percentage of regional consumers making direct purchases from a brand's website, a majority of consumers researching products online before purchasing, and a significant number using subscriptions for convenience. Additionally, a notable portion of consumers are willing to pay a premium for products with a lower carbon footprint or from companies with ethical practices, and accurate product descriptions are seen as critical in reducing returns.